Schlumberger Limited (NYSE:SLB) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in Schlumberger Limited (NYSE:SLB) by 4.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,181,994 shares of the oil and gas company’s stock after selling 57,370 shares during the quarter. New York State Teachers Retirement System owned approximately 0.08% of Schlumberger worth $49,585,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue raised its stake in Schlumberger by 0.4% during the 1st quarter. State of Alaska Department of Revenue now owns 154,854 shares of the oil and gas company’s stock worth $8,487,000 after acquiring an additional 630 shares in the last quarter. Norden Group LLC acquired a new stake in Schlumberger during the 1st quarter worth $4,046,000. First Trust Direct Indexing L.P. raised its stake in Schlumberger by 1.4% during the 1st quarter. First Trust Direct Indexing L.P. now owns 45,401 shares of the oil and gas company’s stock worth $2,488,000 after acquiring an additional 641 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its stake in Schlumberger by 4.7% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 11,551 shares of the oil and gas company’s stock worth $633,000 after acquiring an additional 520 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its stake in Schlumberger by 13.9% during the 1st quarter. J.W. Cole Advisors Inc. now owns 17,340 shares of the oil and gas company’s stock worth $950,000 after acquiring an additional 2,118 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

SLB stock opened at $40.16 on Thursday. The company has a market cap of $57.40 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.47 and a beta of 1.51. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $42.63 and a 200-day moving average of $45.31. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $57.75.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same period in the previous year, the business earned $0.78 earnings per share. Schlumberger’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts expect that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.74%. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SLB has been the topic of several research analyst reports. Citigroup cut their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Susquehanna cut their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. TD Cowen lowered their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Evercore ISI lowered their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Finally, Morgan Stanley lowered their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.